Construction Aggregates Market valuation will top US$ 664.6 Billion, and it is expected to exhibit a healthy 6.8% CAGR between 2021 and 2031. As per a Future Market Insights (FMI) study, the increasing use of recycled construction aggregates, coupled with an investment towards infrastructural expansion in the Asia Pacific, Europe, and North America are shaping the construction aggregates demand outlook.
FMI has projected the demand to surge at an impressive 6.8% CAGR between 2021 and 2031 backed by the recovery of construction activities, especially in emerging economies. Increasing investments by the governments to support the development of residential and commercial projects will fuel market growth.
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Key Takeaways
- Fast-paced urbanization and the influx of population have provided an impetus to construction activities globally, subsequently causing construction aggregates sales to uptick.
- Population migration from rural to urban areas has compelled governments across various countries to offer incentives to residential construction, resulting in spurring sales in the construction aggregates market.
- Digital transformations in the construction industry introduced a new approach that has allowed key construction companies and the workforce to adopt a technology framework that will help them to meet the industry’s current challenges.
- The introduction of Building Information Modeling (BIM) is rapidly supporting digital transformation in the construction sector. BIM provides assistance with time management, cost planning, sustainability in raw material usage, waste reduction, and improved overall project performance.
- As per FMI’s analysis, the construction aggregation market in the U.S. will continue expanding at a steady pace owing to investments by governments toward the expansion of roadways and infrastructure.
Competitive Landscape
Heidelberg Cement AG, Martin Marietta Materials Inc, LSR Group, LafargeHolcim Ltd., Cemex SAB de CV ADR, Vulcan Materials Company, CRH plc, Adelaide Brighton Ltd., Eurocement Group, ROGERS GROUP INC. are some of the key companies profiled in the full version of the report.
As per FMI’s market survey, prominent players are focusing on production facility expansions and product innovations to develop sustainable construction aggregates. Along with product innovations, players are aiming at strategic partnerships with regional players to strengthen their geographical footprint in the market.
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Construction Aggregates Market by Category
By Product Type:
- Crushed Stone
- Sand
- Gravels
By Application Type:
- Commercial
- Residential
- Industrial
- Infrastructure
By Region:
- North & Central America
- South America
- India
- China
- Australia & New Zealand
- Middle East
- Africa
- Rest of APAC
- Southern & Western Europe
- CIS & Eastern Europe
- Northern Europe
The US will dominate the construction aggregation market as per the FMI’s analysis. Owing to the investments by governments toward the expansion of roadways and infrastructure in the US, a steady pace in the construction aggregates market is visible.
The U.S. Department of Transportation has announced US$ 905.25 Mn in proposed rewards for FY 2021. These funds are allocated for the development of 24 projects in 18 states that come under the Infrastructure for Rebuilding America (INFRA) grant program.
Germany has emerged as a leading construction aggregates market in Europe. The presence of leading market players and expansion in infrastructure, particularly hotels, and resorts are anticipated to shape the growth outlook for the market in Germany.
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The construction aggregates market in China is anticipated to reach a market valuation of US$ 143.3 Bn in 2021, owing to increasing urbanization and industrialization in the country. Besides residential projects, infrastructural projects such as roadways, railways, and basic roads in rural areas are anticipated to generate demand for construction aggregates in China.
With rapid urbanization in the country, FMI projects a positive growth outlook for the construction aggregates market between 2021 and 2031. Expansion of the railway and roadways network in the country will propel sales of construction aggregates.
Explore FMI’s Extensive ongoing Coverage in the Chemicals & Materials Domain
Road Aggregates Market: The global road aggregates market is projected to have an average-paced CAGR of 6.8% during the forecast period. The current valuation of the market is US$ 367.70 billion in 2022.
Recycled Glass Aggregates Market: The recycled glass aggregates are produced with the use of waste materials such as plastics which can be used as building blocks, hence eliminating the need for disposal and plastic pollution across the globe.
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